Miami-based City National Bank of Florida assumed a $4.5 million loan that was originally made by Sabadell United Bank in 2014 and granted an advance to increase the mortgage to $35 million. The borrower is MAC 1045 5th Street LLC, headed by Comras Cos. CEO Michael Comras
Located at 1045 Fifth St. on the corner of Lenox Avenue, the BLVD at Lenox will total 67,000 square feet of retail in three stories. Target has leased 33,000 square feet on the second floor as part of its new smaller format stores. The retailer previously said it plans to open in South Beach in spring 2019.
The BLVD at Lenox was designed by Zyscovich Architects. It will have 218 parking spaces.
Comras is looking for tenants for its 27,000 square feet of ground-floor retail and its 6,000 square feet of restaurant space on the third floor.
Brian Bandell, Business Journal
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